[ad_1]
Portfolio yield in September was 2.97% The weighted average maturity is 985 days.
The total market value of the portfolio is $15.6 billion; An increase of $1.9 billion compared to November 2022.
Total portfolio included 65% U.S. Treasury; 9% U.S. government agencies;
17% in mortgage-backed securities, 8% in money market mutual funds, 0.3% in certificates of deposit;
0.6% for government bond issuance and foreign bonds; consists of the balance of invested funds.
The government bond market ended the month with lower yield levels than in October. All periods reflected declines, with the 10-year Treasury note down 0.60% for a return of 4.33%. The 2-year bond was 4.68% and the 30-year bond was 4.50%.
| S&P | Dow | Nasdaq | |
| about the month | 8.9% | 8.8% | 10.7% |
| year to date | 19% | 8.4% | 36% |
The S&P 500 set a new record in November, posting its best performance since the rebound in 2020, posting an 8.9% gain. On a year-over-year basis, the S&P rose 19%, according to Bloomberg News, “halting a third straight month of losses as investors hedged against the possibility of a recession, geopolitical turmoil and worsening borrowing costs.” That’s what it means. Meanwhile, the Dow Jones and Nasdaq posted positive monthly gains of 8.8% and 10.7%, respectively. On an annualized basis, the Dow gave him a healthy 8.4% return and the Nasdaq a healthy 36%.
The Federal Reserve unanimously voted to keep the overnight federal funds rate unchanged at its target range of 5.25% to 5.50%, which continues to reflect its 22-year high. “All participants judged that it was appropriate for policy to maintain a suppressive stance for a period of time until there was a clear and sustained decline in inflation towards the Committee’s objectives,” the meeting minutes said. “I did,” it says. According to Reuters, “The slowdown in demand is increasing optimism that the U.S. central bank will probably finish raising rates this cycle, with financial markets even predicting a rate cut in mid-2024.”
The number of jobs created in October reflected the slowest growth since June, at 150,000. The unemployment rate rose from 3.8% to 3.9%, an increase of 0.5 points since April. The Ministry of Labor announced that strikes in the automobile, transportation, warehousing and information industries resulted in a loss of 54,000 employees. Meanwhile, employment numbers for August and September have been revised downward by a total of 101,000 people.
| The Wall Street Journal said: “Employers are retreating in light of high interest rates, persistent inflation and wars in Europe and the Middle East.” |
The Department of Commerce announced that the Consumer Price Index (CPI) for October was lower than expected and flat from the previous month. Compared to the same month last year, the CPI was 3.2% compared to 3.7% in September. Annualized core CPI was 4%, the smallest increase since September 2021. Producer prices also fell by 0.5% month-on-month, contrary to market expectations, reflecting the biggest decline since April 2020.
| The Wall Street Journal reported. “Slower income growth, higher interest rates and prices, reduced savings due to the pandemic, and the resumption of student loan payments have combined to erode Americans’ ability to continue increasing spending as vigorously as they did over the summer. There is.” |
October retail sales fell 0.1% after three consecutive months of increases, and September sales were revised upward by 0.2% to 0.9%. Core retail sales, which exclude autos, gasoline, building materials and food services, rose 0.2%, revised upward to 0.7% from 0.6% in September.
| Reuters reported. “While the decline in retail sales was partly a reaction to recent strong sequential growth, it also reflects consumers feeling the heat from rising borrowing costs, with most low-income households Relying on credit cards to fund purchases after making excessive purchases “Savings accumulated during the COVID-19 pandemic” |
| The National Association of Realtors reported: “October’s unsold property inventory at the end of the month increased by 1.8% from last month to 1.15 million homes for sale. Compared to October 2022, inventory levels decreased by 5.7%.” |
| According to Wells Fargo, “Compared to the economic consensus of 4.0% and the advance forecast of 4.0%, although the private consumption component was lower than the forecasted 3.6%, overall output growth exceeded expectations and was the highest annual GDP growth rate since the end of 2021. measured in the second and third quarters of 2023, GDP growth was 2.1% and 2.2%, respectively. ” |
Collateralization
All funds requiring collateral managed by this office were secured at interest rates ranging from 100% to 110% depending on the type of investment.
Payments, fees and charges
The purchase and sale of securities was conducted using competitive bidding. Bank fees and operating expenses for money market mutual funds, as well as revenue sharing between the state treasury and the master custodian bank for securities lending income, are detailed on the attached page.
Total investment
Funds available for investment at market value include treasury investments. $12,159,429,223 and state agency balances invested in OK $3,517,694,408 in total $15,677,123,631.
Todd Russ
state treasurer
cc: Governor Kevin Stitt
House Speaker Charles McCaul
The Honorable Greg Treat, Interim President
Attorney General Gentner Drummond
Cindy Byrd, State Comptroller and Inspector General
See the full report below.
[ad_2]
Source link
